This Internal Assessment Test on Strategic Management from July 2016 evaluates understanding of strategic management principles, including benefits, macro environment factors, BCG Matrix, generic strategies, and vision versus mission statements. Essential for students and professionals in management.
Introduction
Growth
Stability
Disinvestment
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Potential entry of new competitors
Bargaining power of suppliers
Bargaining power of union
Development of substitute products
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Sense of strategic vision
Sharper focus on what is strategically important
New top management for the organisation
Understanding of turbulent environment
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Aligned with the organization’s value proposition
Difficult for competitors to imitate
Durable over time
All of the above
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Quality Circles
Six Sigma
SEI-CMM Level 5
Continuous Quality Improvements (CQI)
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Vision statement; mission statement
Short-term objectives; long-term objectives
Objectives; strategies
Mission; vision
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C. K. Prahalad
Udai Pareekh
Amartya Sen
Deepak Chopra
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Information Management
Knowledge Management
Data Management
Internet of Things (IOT)
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establishing appropriately balanced controls.
Exploiting and maintaining core competencies.
Emphasizing ethical decisions and practices
Checking inventory management.
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It is a Lower-management activity
It is a Centralized activity
It is a Decentralized activity
It is a Top-management activity
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Vision, Rare, Inimitable and Non-substitutable
Valuable, Rare, Inimitable and Non-substitutable
Valuable, Rare, Inimitable and Non-standardised
Valuable, Rare, Inspiration and Non-substitutable
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Generic Strategies
Corporate Strategies
Functional Strategies
Operational Strategies
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Corporate Strategy
Operations Strategy
R&D Strategy
IT Strategy
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Is responsible for the implementation of the organization's operating activities.
Plays a significant role in corporate governance.
Serves in the role of executive management.
Is not an important part of the organization's strategic development
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Increased efficiency
What sets an organisation apart
Intangible resources
A strength of an organisation
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Programmes, Marketing, Policies, Procedures and Rules
Budgets, Marketing, HR, Technology and Co-operation
Programmes, Budgets, Policies, Procedures and Rules
Budgets, HR Policies, Administration Procedures and Marketing Rules
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Individual Ethics
Organisational Ethics
Organisational Culture
Business Values
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Finance, HR, Marketing and Operations
Business Growth, Marketing Capabilities, HR Strengths and Customer Base
Learning & Growth, Business Processes, Customers and Finance
Competitive Advantage, Core Competence, Sustainability, CSR
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Premise Control, Strategic Surveillance, Implementation Control and Special Alert Control
Programme Control, Environment Control, Monitoring Control and Special Alert Control
Premise Control, Marketing Surveillance, Implementation Control and Feedback Control
Programme Control, Strategic Surveillance, Evaluation Control and Feedback Control
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